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The United Arab Emirates is a high-income developing market economy. The UAE's economy is the 4th largest in the Middle East (after Turkey , Saudi Arabia and Israel ), with a gross domestic product (GDP) of US$415 billion (AED 1.83 trillion) in 2021-2023.
Based on latest figures and estimates, the Arab League has a GDP of approximately US$3.5 trillion at nominal values and $9.4 trillion at purchasing power parity (PPP). The member states with the largest nominal GDP are Saudi Arabia at US$1.115 trillion, followed by the UAE at $507.18 billion and Egypt at $489.4 billion.
The main natural gas producer in Egypt is the International Egyptian Oilfield Company (IEOC), a branch of Italian Eni. Other companies including BP , APA Corporation and Royal Dutch Shell carry out activities of exploration and production by means of concessions granted for a period of generally ample time (often 20 years) and in different ...
The United Arab Emirates has been successfully diversifying the economy. 71% of UAE's total GDP comes from non-oil sectors. [86] Oil accounts for only 2% of Dubai's GDP. [87] The UAE is also making an effort to attract foreign direct investment by offering 100% foreign ownership and no taxes. [88] Tourism is one of the main sources of revenue ...
This article lists the countries of the Arab League sorted by their gross domestic product (GDP) at nominal values. GDP is the value of all final goods and services produced within a nation in a given year. The table below shows the nominal GDP and GDP per capita for the 19-23/25” Members of the Arab League in 2025.
The United Arab Emirates plans to triple its supply of renewable energy and invest up to $54 billion over the next seven years to meet its growing energy demands. Sheikh Mohammed bin Rashid Al ...
On February 24, 2024, Egypt signed a contract to develop the Ras El-Hikma project in partnership with the United Arab Emirates, with the project intending to attract investments worth more than US$150 billion during the project's development period, including US$35 billion in foreign direct investment for the Egyptian state within two months.
The UAE, led by government-backed G42, is investing heavily in AI to help diversify its economy away from oil and UAE-based companies have forged several deals with U.S. firms recently.